Leaders of the 26 diamond exchanges that are members of the World Federation of Diamond Bourses gathered at the 2007 Presidents Meeting in Amsterdam, June 24-26, for the biennial assembly held between World Diamond Congresses.

The meeting, which coincided with the 60th anniversary of the establishment of the WFDB in 1947, resolved to upgrade both the operation and administrative infrastructure of the organisation, so that it is better equipped to deal with the challenges of the 21st century business environment, in which it provides an expanded range of services directly to WFDB bourse members.

Specifically, it was decided that for the first time the WFDB would employ a full time chief executive, who will operate out of the WFDB Secretary General’s Office in Antwerp, Belgium.

The President’s Meeting also decided that the Secretary General’s Office also will be expanded as well, and new revenue streams developed in order to finance the enlarged operation.

“I believe that we currently are standing at a threshold, and we are left essentially with two choices,” said WFDB President Ernest Blom, addressing the WFDB presidents.

“The first is to cross over and expand the role of the WFDB so that it remains relevant and is able to serve the interests of the bourses and bourse members in the 21st century. The second is stay where we are, but over time lose our relevance and our ability to influence events in our business.”

“Clearly our intention should be to move forward, but to do so we will need to make some significant decisions about the way in which we are structured, how we operate and how we are financed,” the WFDB President continued